Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells 228,645 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 228,645 shares of Robinhood Markets stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. The trade was a 97.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Baiju Bhatt also recently made the following trade(s):

• On Wednesday, December 11th, Baiju Bhatt sold 186,514 shares of Robinhood Markets stock. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82.
• On Tuesday, November 5th, Baiju Bhatt sold 108,964 shares of Robinhood Markets stock. The shares were sold at an average price of $24.92, for a total value of $2,715,382.88.
• On Thursday, October 17th, Baiju Bhatt sold 98,404 shares of Robinhood Markets stock. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60.

Robinhood Markets Trading Down 5.0 %

HOOD traded down $2.15 on Tuesday, hitting $40.56. 17,600,861 shares of the company’s stock traded hands, compared to its average volume of 19,696,400. The company’s 50 day simple moving average is $35.82 and its 200-day simple moving average is $26.97. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $43.83. The firm has a market cap of $35.85 billion, a price-to-earnings ratio of 68.75, a P/E/G ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s quarterly revenue was up 36.4% on a year-over-year basis. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Trading of Robinhood Markets

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after purchasing an additional 3,817,355 shares during the last quarter. Azora Capital LP bought a new position in shares of Robinhood Markets during the 3rd quarter valued at approximately $79,780,000. FMR LLC grew its holdings in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC raised its stake in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent research reports. Piper Sandler boosted their price target on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $26.00 to $49.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Sanford C. Bernstein raised their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.